Exhibit 99.1
For Release at 4:01 PM Eastern on May 27, 2009
DSW INC. REPORTS 2009 FIRST QUARTER FINANCIAL RESULTS;
PROVIDES ANNUAL OUTLOOK
COLUMBUS, Ohio, May 27, 2009/PRNewswire/ — DSW Inc. (NYSE: DSW), a leading branded footwear
specialty retailer, announced net income of $7.1 million on net sales of $385.8 million for
the quarter ended May 2, 2009 compared with net income of $10.3 million on net sales of
$366.3 million for the quarter ended May 3, 2008. Same store sales decreased 4.7% versus a
decrease of 5.4% last year.
Diluted earnings per share were $0.16 for the first quarter of fiscal 2009 compared with
diluted earnings per share of $0.23 last year.
Fiscal 2009 Outlook
For the fiscal year ending January 30, 2010, the Company estimates annual diluted earnings per
share to be approximately $0.30 to $0.35.
The Company anticipates a mid-single digit decrease in comparable store sales and expects to open
approximately ten new DSW stores compared with 41 new stores last year. Capital expenditures are
expected to decrease to approximately $35 million compared with $81 million last year.
The Company will discuss its 2009 outlook more fully on its webcasted conference call to be held
today.
Webcast and Conference Call
To hear the Company’s live earnings conference call, log on to www.dswinc.com today at 4:30
PM Eastern, or call 1-800-798-2884 and reference passcode 75086535. To hear a replay of the
earnings call, which will be available approximately two hours after the conference call
ends, dial 1-888-286-8010, followed by passcode 71423591. An audio replay of the conference
call, as well as additional financial information, will also be available at www.dswinc.com.
About DSW Inc.
DSW Inc. is a leading branded footwear specialty retailer that offers a wide selection of
brand name and designer dress, casual and athletic footwear for women and men. As of May 27,
2009, DSW operated 304 stores in 38 states and operated an e-commerce site, www.dsw.com. DSW
also supplied footwear to 363 leased locations in the United States. For store locations and
additional information about DSW, visit www.dswinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Any statements in this release that are not
historical facts, including the statements made in our “Outlook,” are forward-looking statements
and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements are based on the Company’s current expectations and involve known and
unknown risks, uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. These factors include, but are not limited
to: our success in opening and operating new stores on a timely and profitable basis; continuation
of supply agreements and the financial condition of our leased business partners; maintaining good
relationships with our vendors; our ability to anticipate and respond to fashion trends;
fluctuation of our comparable store sales and quarterly financial performance; disruption of our
distribution operations; the realization of our bankruptcy claims related to Filene’s Basement and
Value City Department Stores; impact of the disposition of Filene’s Basement by Retail Ventures on
the allocation of expenses pursuant to the shared services agreement with RVI; failure to retain
our key executives or attract qualified new personnel; our competitiveness with respect to style,
price, brand availability and customer service; declining general economic conditions; risks
inherent to international trade with countries that are major manufacturers of footwear; the
success of dsw.com; liquidity and investment risks related to our investments; our ability to
secure additional credit upon the termination of our existing credit facility; and liquidity risks
at Retail Ventures and its impact on DSW. Additional factors that could cause our actual results to
differ materially from our expectations are described in the Company’s latest annual or quarterly
report, as filed with the SEC. All forward-looking statements speak only as of the time when made.
The Company undertakes no obligation to revise the forward-looking statements included in this
press release to reflect any future events or circumstances.
Source: DSW Inc.
CONTACT: Investor Relations for DSW Inc., 1-614-872-1474
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